COLUMBUS— State Senator Tim Schaffer (R-Lancaster) provided sponsor testimony today on Senate Resolution 176, which will urge the United States Congress to protect the natural gas and oil industry from disproportionate tax increases or other punitive measures.
In his testimony, Schaffer stated, “As you may know, Congress is currently in the process of voting on legislation that proposes to invest in America's infrastructure. Tucked away in this legislation are numerous punitive measures aimed at America’s oil and gas industry that could jeopardize American energy independence and hundreds of thousands of jobs across the nation.”
The U.S. Congress is currently in the legislative process of evaluating a $3.5 trillion dollar infrastructure bill with proposed language that will increase taxes and regulations on the oil and gas industry, putting Ohio’s economy and thousands of jobs across the state at risk. The oil and gas industry in Ohio contributed more than $58.7 billion to Ohio’s economy in 2019 while employing more than 375,000 Ohioans.
“Those are dollars that are being spent here, invested here, and shared here as workers eat at restaurants, purchase groceries, and support local economies,” Schaffer said. “Ohioans are better off because the oil and gas industry is strong in Ohio.”
Senate Resolution 176 passed out of the Senate Energy and Public Utilities Committee today by a vote of 9-2 and now heads to the Ohio Senate floor for further consideration.